Australia & New Zealand Banking Group Limited Agrees For A Lower Sale Consideration For Part Of Its Business

  • Oct 17, 2019 BST
  • Team Kalkine
  • Australia & New Zealand Banking Group Limited (61XA) has agreed a revised price for the sale of its OnePath Pensions & Investments (OnePath P&I) business and Aligned Dealer Groups (ADGs) to IOOF.
  • The group has agreed for a consideration of $850 million, which is $125 million less than the original sale price of $975 million announced in October 2017.
  • The sale agreement has the termination of rights for both the companies if the remaining condition of APRA approval is not satisfied.

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